These days, social media is a virtually indispensable part of marketing anything, including cryptocurrencies. Given that so many crypto buyers find projects through social media and engage with the industry via digital platforms, it’s almost unheard of to have a crypto marketing campaign without social media.
But social media, as many of us know, is a very dynamic concept, which includes dozens of popular platforms and millions of users. For a Crypto marketing campaign to be effective, it will have to split its spend across the different platforms, and there is a certain art form to getting this right. Here are some ways to effectively pull off the split.
Define Your Crypto Marketing Platforms
The first thing you’ll want to do is decide what platforms you plan to market your project on in the first place. As we’ve said, social media includes a plethora of platforms, and you’ll have to consider the best ones for you. We’ve broken some down in a previous blog post, but some of the top platforms to opt for include Instagram, Twitter/X, Telegram, Discord, TikTok, and many more.
Depending on the type of project you’re trying to push, some of these might be better than others. If your campaign is specifically video-based, for example, TikTok, YouTube, and other video-focused platforms will be your best bet. If text is more of your medium, Twitter, Medium, Discord, and others are best. Try to list the 5 platforms you most want to focus on, though this might be a longer list depending on your budget. But once you know for certain what sites you’re going to advertise on, the rest will be much easier.
Define Your Target Audience Size
Another step towards splitting your marketing spend is deciding the audience you want to target and how big they are on different platforms. Say your project is a fusion of crypto and gaming mechanics. In that case, you want to target platforms where gamers and crypto lovers congregate. If you find that the biggest audience you have access to is gamers on Discord, more of your marketing spend should go there. If crypto lovers on Twitter/X are a bigger market, this dictates more spending on that platform.
You also have to be sure of just how much reach your spend can get you. We’ll touch on it more in another section, but knowing how many people you can afford to reach will partially determine how you split your spend.
Decide on Your Goals
The way you split your budget has to take into account what your actual goals are and how the platforms can facilitate them. Say you’ve developed a crypto-focused app and want to drive downloads. An app like Instagram or TikTok might be a better platform to find customers compared to something like YouTube or Discord. In that case, you’ll want to dedicate more ad spend to them.
A good idea would be to define your goals, whether it is downloads, sales, sign-ups, engagement, and so on. Once you do this, find out what platforms have the marketing setup to give you the best results. Based on this, you can begin to divide marketing spend.
Choose Your Budget
Naturally, the next step you want to take when splitting your crypto marketing spend is to determine what the actual spend is. By knowing this, you’ll know just how much bandwidth you have to play around with. If your marketing spend is capped at $10,000, for example, you can split it across more platforms effectively than $1,000. Spending too little money on crypto marketing could lead to a situation in which you see minimal effects. Always remember that it is infinitely better to reduce the number of platforms if your budget cannot support them.
Another idea would be to hire an agency such as Proleo.io, which specializes in delivering results no matter what budget you’re working with and what platforms you prefer.
Split Across Platforms
Once you have both the list of platforms you want to market on, as well as your total budget, you want to go ahead and actually split it across them. To keep things simple, create a scale of preference for these different sites. Factoring in the audience on the platforms, the goals of the campaign, and much more, divide the money between them. Remember that there is no right way to do this, as some sites might get the lion’s share of the campaign spend while others might get less attention.
Make sure that you monitor the spend, keeping track of how much was spent on each site. By doing this, you’ll know whether your actual spending matched the initial plan or not.
Review Performances
Because crypto marketing is a continuous process, you need to track how each platform performed. This will guide future decisions and help you make the most of your investment. Say you spent most of the campaign funds on YouTube ads and less on TikTok ads. By reviewing the results, you might find that TikTok actually paid you the most, and thus, you might choose to spend more money on TikTok next time to get even better results. Remember that every campaign represents a learning opportunity, but you can only reap the benefits if you review your campaigns during and after.
Conclusion
Crypto marketing is a complex affair, and one of the most important parts is managing campaign spending. If you spend too much or too little on the wrong platform, you can end up reaping no results. Deciding which platforms to use and how much money to give them is a tricky process, but we have broken it down in this article.
Next time you have to market a crypto project on social media, consider your goals, total budget, and audience when dividing funds. Of course, you can always reach out to us here at Proleo.io to get started with whatever type of campaign you want.
